Mammoth Q2 2026 Earnings: Revenue Doubles as Adjusted EBITDA Turns Positive

Mammoth Energy Services (NASDAQ: TUSK) reported Q2 2026 revenue of $26.1 million, up 110% year over year, while its diluted loss per share from continuing operations narrowed to $0.02 from $0.76. Adjusted EBITDA improved to $2.6 million from a $3.5 million loss, led by rental and aviation activity and a return to positive drilling EBITDA. The company raised its 2026 outlook to revenue growth above 90% and an adjusted EBITDA margin above 10%, even as heavy aviation-focused capital spending and negative first-half operating cash flow reduced liquidity.